RESEARCH TRIANGLE PARK – ImagineOptix, an emerging entrepreneurial company launched at N.C. State, is expanding and will remain in North Carolina, the company saying it was approached about relocating elsewhere.
The decision follows the firm’s raising of $9 million from investors last December.
ImagineOptix says it has developed “proprietary technology that allows optics to be thinner, lighter, and more efficient than current optics solutions.”
The company, which focuses on optics technology used in virtual and augmented reality devices, will locate its headquarters in RTP and also based its manufacturing operations there, occupying nearly 30,000 square feet in the Longfellow Real Estate Partner’s BioPoint Innovation labs. Its flagship liquid crystal polymer-based optical film
ImagineOptix also anticipating adding more jobs over the next 12 to 18 months, doubling its current workforce of 10 and adding more later.
“N.C. State and now Longfellow have both played important roles in helping ImagineOptix overcome challenges we’ve faced while establishing high tech manufacturing in the U.S. Without their help, we’d either not be successful or we would now be contributing to the economy of another country rather than the United States. Our carefully weighed decision to stay in our home region has wound up being a win for everyone,” said Erin Clark, CEO of ImagineOptix, in the announcement.
“The leadership and staff at N.C. State has been indispensable as ImagineOptix has grown. We look forward to maintaining our close ties at this wonderful university. Longfellow has been an ideal partner for several reasons. They were open to working with an earlier stage business, they were intimately familiar with the facilities requirements of a high tech manufacturing company, and they offered multiple options for us to consider. Plus, like the team at N.C. State, they’re simply good people and consummate professionals.”
ImagineOptix launched in 2004 under the leadership of optical science researcher, Michael Escuti, a professor from NCSU, long-time IBM executive Dennis Kekas, Dennis’s son Jason Kekas, and turnaround specialist and Clark. Kekas has also been involved for years as a leader and manager of NCSU’s Centennial Campus.
Clark said the firm was recruited to move out of state or even out of the country.
Working with Longfellow, ImagineOptix management decided to remain in the Triangle. Its new space is now under construction with a move expected in September.
“We are thrilled about ImagineOptix’s success and our ability to meet their complex expansion needs at BioPoint Innovation Labs,” said Jessica Brock, Durham-based partner for Longfellow. “Longfellow’s ongoing investment in the Research Triangle and growing national presence allows us to deliver world-class real estate spaces and integrated services to tenants in the life science, creative office and traditional office sectors. This expertise has helped make it possible for a great homegrown company like ImagineOptix to remain and grow in North Carolina makes this partnership especially sweet.”
